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Biocon partners with Tabuk Pharma to commercialise its speciality generic medicines in Middle East

Our Bureau | | Updated on: Dec 07, 2021
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The partnership enables Biocon’s expansion into Middle East and North Africa region

Global biopharmaceutical company Biocon Limited, on Tuesday, announced a partnership with Tabuk Pharmaceutical Manufacturing Company (a fully-owned subsidiary of Astra Industrial Group), a pharmaceutical company in the Middle East and North Africa (MENA), to commercialise select speciality products in the Middle East.

As per the terms of this agreement, Tabuk Pharmaceuticals will hold the marketing authorisation for these products and will be responsible to register, import, and promote them in Saudi Arabia and other Middle East countries.

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“The partnership will pave the way for Biocon’s expansion into the MENA region to include Saudi Arabia, UAE, Kuwait, Qatar, Oman and Iraq, in addition to Jordan and Lebanon,” Biocon said in an official release.

The products will be developed and manufactured by Biocon as part of the out-licensing deal with Tabuk. Tabuk will commercialise them.

In line with Saudi Vision 2030

Siddharth Mittal, Chief Executive Officer and Managing Director, Biocon Ltd, said, “Our partnership with Tabuk Pharmaceuticals is another significant step as we continue to expand our global presence with our portfolio of high quality, vertically-integrated generic formulations, to address unmet medical needs. We are extremely pleased to collaborate with Tabuk, whose deep expertise will help us build a solid foundation in key Middle East markets.”

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Mohammed Alhagbani, President of Astra Industrial Group, said, “As part of our role and mission at Tabuk Pharmaceuticals to deliver unique health solutions and enhance the well-being of people in Saudi Arabia and countries we operate in, our partnership with as distinguished and renowned a company as Biocon comes in as an evident choice to further support our mission in line with Saudi Vision 2030, regarding localising speciality and value-added pharmaceutical products.”

“We are leveraging advanced science, innovative tech platforms and international research collaborations to develop therapies that can lower treatment costs, increase access and improve healthcare outcomes,” added Alhagbani.

Wisam Alkhatib, Vice-President of Strategy and Business Development at Tabuk Pharmaceuticals, added, “We are excited at Tabuk to partner with an innovation-led company like Biocon to commercialise difficult to make products that build on our strategy to expand our specialty business and reinforces our leading position in the region. Our aspiration is to be the partner of choice to Biocon in the region and consider further collaboration with a rich pipeline of products.”

Published on December 07, 2021

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